Playing poker for a living

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mxmike53

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Just looking for some general info from anyone who plays the game for a living.. mostly live 1/3, 2/5, 5/10 and tournaments

How do you separate your poker bankroll and what you need to pay your bills and so forth?
Thanks
 
JBGoode

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I don't play for a living pre say, but it is an extra revenue stream for me. They say your avg. billionaire has 7 revenue streams. Thus they are making money 7 different way. having this mindset keeps you from going broke. With that said, I have my bank account for my personal money, and a spreate accounts for my "busniesses" or "extra revanue streams". I pay myself out of my other account into my personal just enough for what I need. Now of course I have a savings for retirement, future events, emergancies, ect. The key is to know how much profit you are getting from each of your revanue streams, and keep them funded accordingly. While making sure your bills get paid. If your losing money, you can only replace it with surplus of the other streams....

so ti answer your question, treat it like a business with the extra money you can afford. build it up. keep track of your wins and losses, and most of all don't get emotionally attached. treat it like a job. that is then and only then will you know if you can deal with the pressure of "playing for a living".
 
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mxmike53

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I don't play for a living pre say, but it is an extra revenue stream for me. They say your avg. billionaire has 7 revenue streams. Thus they are making money 7 different way. having this mindset keeps you from going broke. With that said, I have my bank account for my personal money, and a spreate accounts for my "busniesses" or "extra revanue streams". I pay myself out of my other account into my personal just enough for what I need. Now of course I have a savings for retirement, future events, emergancies, ect. The key is to know how much profit you are getting from each of your revanue streams, and keep them funded accordingly. While making sure your bills get paid. If your losing money, you can only replace it with surplus of the other streams....

so ti answer your question, treat it like a business with the extra money you can afford. build it up. keep track of your wins and losses, and most of all don't get emotionally attached. treat it like a job. that is then and only then will you know if you can deal with the pressure of "playing for a living".
Very understandable, I like the thought of the revenue stream information. I do keep track of as much data from the table that I can. I will more than likely just keep it as a side business like you said. Thank you for the input
 
Aremaz95

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I live in Venezuela and I can tell you with confidence and base that thanks to poker I am living, it gives me good income to survive here
 
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Peter Jankowski

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Full-time poker takes a lot of time and effort. Need serious consideration for insurance, dental, medical, food, shelter, gas, car repairs and all of life's little extras. Part-time easier, less stress. Plus poker can get boring if that's all you do.
 
vov4ik

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I play poker online, for me poker is more for fun, but very good when poker brings me extra profit, but many poker players are for them a game for life and they earn a game of poker and win good amounts of money!
 
JBGoode

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And thank you for the reply. I will also add, if you are actually in the red after the year is up. you can use your losses as a tax right off. So keep all you respites when playing live. On the flip side I'm not sure about On-line losses figuring its still "illegal" in many states.
 
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mxmike53

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Great advice all around! Will keep studying the game and looking to improve.
 
777jeton777

777jeton777

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I personally do not make a living by playing poker. but I would very much like to combine useful with pleasant. as far as I know very few people live at the expense of playing poker. but I'm sure that this is the goal of everyone who plays poker.
 
infonazar

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It depends on your lifestyle and temperament.
Anyway, your bankroll should grow every week.
Only then can you think about cash withdrawal.
MTT tournaments are the most profitable for me.
 
steeler1970

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I play for fun and the reason is because you never know how the cards will go and think of making a living that way would be way to stress full for me. And like they say you have to have money to make money lol so playing them low stakes i do not think is a good idea
 
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